The Open Network Faces Technical Pressure: TON Slips Below Key Support Zones

The Open Network’s native token has retreated 4% in the past 24 hours, currently trading at $1.44 as of January 29, 2026, marking a notable divergence from the broader market’s recent momentum. TON briefly rallied to $1.55 during the session before reversing course, ultimately touching a low of $1.43 as selling pressure dominated trading activity. This price action stands in sharp contrast to the CoinDesk 20 index, which maintained slight gains during the same period, highlighting TON’s underperformance among major digital assets.

Price Structure Breakdown and Volume Surge Point to Institutional Exit

The sharp decline accelerated as TON pierced critical support barriers that had previously contained selling pressure. According to technical analysis from market research models, the token dropped below the $1.79 and $1.78 support thresholds, signaling an intensified bearish momentum shift. The breakdown was marked by a notable surge in trading activity, with elevated volume levels suggesting more than routine selling—likely reflecting large-holder or institutional repositioning.

During the selloff, TON formed a descending channel structure that defined much of the trading session’s price dynamics. The total volume traded reached elevated levels compared to the seven-day average, indicating that this move represented substantial market participation rather than random price fluctuation. Technical strategists are now focused on whether the token can stabilize around the $1.44 level or face further downside pressure toward the next potential demand zone between $1.765 and $1.770.

Ecosystem Developments Fail to Stem the Token’s Recent Weakness

Interestingly, TON’s recent decline occurs despite a stream of positive developments surrounding the Open Network ecosystem and its parent platform Telegram. The blockchain has seen deeper integration initiatives and expanding infrastructure projects, including the advancement of Pavel Durov’s CoCoon decentralized AI compute system and the recent addition of xStocks to the TON Wallet. These announcements would typically provide support for the token’s valuation.

However, external pressures have also emerged. Earlier this week, reports indicated that Telegram’s $500 million in bonds issued in Russia faced restrictions under Western sanctions related to geopolitical tensions. While this bond freeze is unlikely to directly impact TON’s price—as the token has evolved into an independent, open-source community asset despite its Telegram origins—it underscores the broader macroeconomic headwinds affecting digital assets. Recent disclosures revealed that Telegram had liquidated over $450 million in TON holdings during the previous quarter, potentially adding supply-side pressure to the market.

Technical Levels to Watch as Traders Assess TON’s Near-Term Direction

For now, price action remains dominated by technical factors in the short term, with market participants closely monitoring whether current support holds. The gap between positive ecosystem news and the token’s technical weakness suggests that sentiment has shifted away from fundamental developments toward near-term risk management.

Traders and investors are watching several critical decision points: whether $1.44 establishes a floor or gives way to further declines, and whether buying pressure emerges at lower demand zones. Without sustained institutional or retail accumulation, the risk of continued downside pressure remains elevated. The interplay between Telegram’s ecosystem expansion efforts and broader market conditions will likely determine whether TON can stabilize or faces deeper technical deterioration in the coming trading sessions.